FM hailed for accepting UNISAME’s demands

June 6, 2015 Off By Web Desk

KARACHI: Union of Small and Medium Enterprises (UNISAME ) on Sunday thanked the federal finance minister (FM) Ishaq Dar for accepting its demands, partially for reducing import duties, providing relief for rice industry, encouraging alternate energy, modernizing of farms, reduction of tax on low income and enhancing savings limit on Bahbood savings for senior citizens.

The increase in minimum wages and pensions is also welcomed. The decision to set up Exim Bank is also a very positive step. The support to the construction/housing sector was also proposed by us.President UNISAME Zulfikar Thaver whilst appreciating the acceptance of demands of the sector urged him to reconsider the imposition of further sales tax on mobile phones as it will lead to smuggling.

Secondly the levies on branded dairy products will make them expensive for the common man. This will discourage branding and quality products development.

Thirdly the union is perturbed to learn of the increase in withholding tax on profit on deposits as it will discourage savings. UNISAME expected the FM to announce a package for the MSME sector to facilitate them and support the promotion and development by concrete measures for the MSMEs.

UNISAME had demanded the strengthening of SMEDA to enable it to reach the micro and small entrepreneurs and modernize them.

Thaver said we are hopeful the FM will look into the possibilities and consider our genuine demands of setting up an institute, chamber and an export house for SMES. The sector also deserves an SME specific bank and the union is confident that the FM would re vitalize the existing SME Bank.